Question

* ROJADIRECTA in English Ch 05:5-3 Stoped Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales data for its only product Ativities Unita Moored at Coat Units old at Retail Jan. 1 beginning inventory 180 unitat $10.50 - $1.890 Jan. 10 Sales 240 319.50 Jan. 20 Purchase - 1,045 Jan. 25 Sales Jan. 30 Purchase 200 unitats 9.00 - 2,345 550 units 270 units Tots The Company uses a perpetual inventory system for specific identification, ending inventory consists of 280 units where 260 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning Inventory 55,275 Exercise 5-3 Perpetual: Inventory costing methods LO P1 Prey 1 of 1 Next MacBook Pro * ÅŚô Cv1

Answer 1

Laker Company FIFO Perpetual Purchases Per unit cost Total Cost Cost of goods sold Units Per unit cost Total Cost Units Units 180 Date Jan-01 Jan-10 Jan-20 140 10.5 1470 40 Balance Per unit cost Total Cost 10.5 1890 10.5 420 10.5 420 9.5 1045 9.5 190 110 9.5 1045 40 Jan-25 40 90 10.5 9.5 420 855 Jan-30 2609 2340 9.5 Jan-31 9.5 190 2340 190 2340 2530 Purchases 3385 COGS 2745 Ending LIFO Perpetual Units Purchases Per unit cost Total Cost Cost of goods sold Units Per unit cost Total Cost Date Jan-01 Units 180 Jan-10 140 10.5 1470 40 Balance Per unit cost Total Cost 10.5 1890 10.5 420 10.5 420 9.5 1045 10.5 210 Jan-20 110 9.5 1045 40 Jan-25 110 9.5 10.5 1045 210 20 Jan-30 260 2340 10.5 Jan-31 10.5 210 2340 210 2340 2550 Purchases 3385 COGS 2725 Ending

Weighted Average Purchases Cost of goods sold Per unit cost Total Cost Units Per unit cost Total Cost Units Date Jan-01 Jan-10 Jan-20 140 10.5 1470 Units 180 40 40 110 150 110 9.5 1045 Balance Per unit cost Total Cost 10.5 1890 10.5 420 10.5 420 9.5 1045 9.77 1465 9.77 195 9.77 9 2340 9.05 2535 9.05 2535 Jan-25 1309 .77 1270 Jan-30 2609 2340 195 20 260 280 280 Jan-31 Purchases 3385 COGS 2740 Ending 2535 Cost of goods sold Units Per unit cost Total Cost Specific Identification Purchases Date Units Per unit cost Total Cost Jan-01 Jan-10 Jan-20 110 9.5 1045 Units 180 40 140 10.5 1470 Jan-25 10.5 25 105 262.5 997.5 9.5 Balance Per unit cost Total Cost 10.5 1890 10.5 420 10.5 420 1045 10.5 157.5 47.5 10.5 157.5 47.5 2340 10.5 157.5 9.5 47.5 2340 Ending 2545 Jan-30 2609 2340 a ala 2 2 2 2 2 2 - 1 9.5 Jan-31 260 Purchases 3385 COGS

Date Units 140 130 Jan-10 Jan-25 Units 140 Sales FIFO Per unit cost Total Cost 19.5 2730 19.5 2535 5265 COGS -2745 2520 Units 140 130 Sales LIFO Per unit cost Total Cost 19.5 2730 19.5 2535 5265 COGS -2725 2540 130 Sales Average Per unit cost Total Cost 19.5 2730 19.5 2535 5265 COGS -2740 2525 Sales Specific Ident. Units Per unit cost Total Cost 140 19.5 2730 130 19.5 2535 5265 COGS -2730 2535 Gross Profit